This script starts the right init-scripts for the runlevels. you now should be able to boot up your archlinux guest system. but there is some more work to get around all these warning and error messages on bootup.
You need to remove all that has to do with kernel, driver and networking. Edit the /etc/rc.conf file and remove networking from DAEMONS.

to make syslog-ng work edit /etc/syslog-ng.conf and comment out the line: [b]pipe("/proc/kmsg")[/b]

Edit /etc/rc.shutdown and comment out all below and including stat_busy "Saving Random Seed" to # Power off or reboot

Have fun with your archlinux guest and feel free to improve the rc script :)